The US Economy, The Fed & Interest Rates
Note: This article was originally published on Oliver’s Insights on 7 May 2014 and has been republished with permission from the original author.
Read MoreNote: This article was originally published on Oliver’s Insights on 7 May 2014 and has been republished with permission from the original author.
Read MoreSteelmaker and iron ore exporter, Arrium (ARI) (the old OneSteel), got publicity yesterday for revealing another round of job cuts in its presentation to the big Macquarie Group Australia investment conference.
Read MoreGood news from China, especially in iron ore imports and trade generally, plus a better than expected jobs report for April combined to send the Aussie dollar and stockmarket higher yesterday.
Read MoreIt was another day of grief for the remaining shareholders in the world’s largest drilling company, Boart Longyear (BLY), which revealed yet more bad news.
Read MoreChina’s foreign trade position seems to have steadied amid the crackdown on false invoicing lurks which distorted the data for much of 2013.
Read MoreThe local bourse has closed lower after recovering from sharp falls earlier in the day.
Read MoreWeaker close as banks held back market. JB Hi-Fi surged thanks to a $27m buyback to improve its capital position. The Reserve Bank lifted its view on economic growth; however rate moves are unlikely in the next few months.
Read MoreThere was some good news and a lot of bad news from the latest quarterly report from News Corp – the company’s newspapers in Australia remain a black hole with the slide in revenues and earnings continuing, as it has done for the past three years. But book publishing perked up, online property company, REA Group again performed strongly, Foxtel had a solid quarter, but Fox Sports didn’t.
Read MoreTough day for the markets. Banks hit by ANZ (ANZ) going EX Div today.
Read MoreThe National Australia Bank (NAB) has completed a record interim earnings season for our big four banks.
Read MoreASX Ltd (ASX), the operator of the Australian Securities Exchange, yesterday revealed a 10% rise in net profit in the nine months ended March 31 to $US286.9 million.
Read MoreIs this a signal from retailing that the bad publicity about the budget and taxes, plus the corruption scandals in NSW, are starting to erode confidence?
Read MoreDespite an upbeat profit update and presentation to the Macquarie Australia conference in Sydney yesterday, shares in online jobs group, SEEK (SEK), ended just 1% lower at $17.13, after falling by 2% in early trading.
Read MoreAt the close on Thursday, the benchmark S&P/ASX200 index was up 41 points, or 0.75 per cent, at 5,476.8.
Read MoreLocal stocks made up for yesterday’s falls with a 0.7% rise. Jobs growth was better than expected in April while China recorded a firmer than forecast trade report. Mining stocks surged.
Read MoreCommSec’s Juliette Saly delivers a Mid-Session market update. The NAB has come through with its 1H profit and jobs in focus.
Read MoreAs expected there was no rate change from the Reserve Bank yesterday and none are envisaged for the foreseeable future.
Read MoreThe $2.15 billion takeover of David Jones (DJS) by the South African retailer, Woolworths, is all but wrapped up following approval from the Foreign Investment Review Board.
Read MoreMore clarity on the probable new rules for our big banks, which were reported yesterday.
Read MoreThe Lowy family and Westfield (WDC) have blinked and changed the terms of their controversial split plan, first revealed last December, in an attempt to save the deal from possible defeat at a meeting of securityholders on May 29.
Read MoreYes, the trade surplus for March dipped to $731 million, down from a surplus of $1.257 billion in February and market forecasts of a figure of around $1 billion.
Read MoreThe Australian sharemarket fell for the first time in four sessions. Retail sales rose by a less than expected 0.1% in March, Kathmandu was a standout after a gain in quarterly sales and the Aussie dollar is firmer.
Read MoreBy the closing bell on Wednesday, the benchmark S&P/ASX200 index was 45.6 points, or 0.83 per cent, lower at 5,435.8, while the broader All Ordinaries index was down 43.6 points, or 0.8 per cent, at 5,419.1.
Read MoreLocal stocks have been under pressure on Wednesday. Sellers applied more pressure after weaker retail sales data from the ABS.
Read MoreCommSec’s Juliette Saly delivers a Mid-Session market update. Rates and a potential takeover of David Jones in focus.
Read MoreNow the annual results of Macquarie Group (MQG) continue to attract attention, with the question now being, is this as good as it will get this time around, or is there something more in the tank?
Read MoreShares in coal, iron ore and freight group Aurizon (AZJ) got spanked yesterday after it and Chinese steel giant Baosteel launched an odd $1.42 billion offer for WA iron ore hopeful Aquila Resources (AQA).
Read MoreThe Reserve Bank board meeting today will have found nothing in the economic data issued yesterday – building approvals again slowed in March, car sales were down (because of less selling days in April), but job ads rose for the 4th month in a row, lending more credence to the idea the labour market had steadied.
Read MoreBendigo and Adelaide Bank (BEN) shares are expected to resume trading today after entering a trading halt to announce a capital raising to fund the $1.7 billion purchase of Rural Finance, from the Victorian Government.
Read MoreAt the close on Tuesday the S&P/ASX200 index was 19.2 points higher at 5,481.4, while the broader All Ordinaries index was up 19.3 points at 5,462.7.
Read MoreThe Reserve Bank decided to keep rates on hold at 2.5%, Australia recorded its fourth straight trade surplus and the local sharemarket expanded for the third session.
Read MoreWestpac (WBC) this morning joined the ANZ in lifting interim profit and dividend for the six months to March 31.
Read MoreThe rising tensions in Ukraine saw gold rise on Friday night our time, but it didn’t move the value of the Aussie dollar which firmed back towards 93 USc again.
Read MoreIt’s another big week in Australia for market-changing news from the economy and business, here and from offshore.
Read MoreAt the close on Monday, the benchmark ASX200 index was 4.6 points, or 0.08%, higher at 5,443.4, while the All Ordinaries index was up 4.1 points, or 0.08%, at 5,462.2.
Read MoreCommSec’s Juliette Saly provides a market update. WBC was in focus on Monday with its 1H result while the market closed only slightly firmer.
Read MoreThe Australian market slowly sliding into the red. Banks in focus after Westpac’s (WBC) 1H14 result.
Read MoreLocal stocks flat ahead of key U.S. jobs report later this evening. Macquarie Group is in the red following earnings and Myer is slumping due to sluggish sales.
Read MoreI suppose it was to be expected, but the sell off in ANZ shares yesterday in the wake of what was mostly a positive interim profit is a bit cynical.
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